Oil prices fell to the level of the fall of 2010 – Fontanka

Oil prices fell to the level of the fall of 2010 – Fontanka

 The cost of a barrel of North Sea Brent crude oil fell below $ 90. Currently, the London-based ICE contracts with delivery in November, is the price of 88.8 dollars, January – 89.5 dollars. Last time the cost of one “barrel” dropped to such a level in autumn 2010.

 Recall that in August the price of one barrel of Brent oil was above $ 100, but then began a rapid decline. Among the main reasons: the strengthening of the dollar against foreign currencies, the slowdown of the Asian economy, the increase in oil production, including – oil production in the United States.

 We also note that to the cost of Brent pegged price of Russian oil Urals, which is usually sold cheaper. Russian budget for 2014 been drawn up based on the target price to $ 93 in the Urals, in 2015 – 96 dollars. Oil and gas revenues, according to the forecast of the Ministry of Finance, should account for half of all revenues of the federal budget.